pricing. Our model provides a more general application of the affine framework in that both bonds and equities are priced in a …

During the decade 1983-1992, approximately 1.4 trillion dollars of municipal bonds were sold in 87 thousand separate …

implications of this finding for asset prices. The uncovered dynamics of consumption implies modestly upward sloping real bond and … equity curves, upward sloping nominal yield curve, and sign-switching correlation between equities and bonds consistent with …

The very low real interest rates on bonds in the 1970's were accompanied by a large drop in the value of common stocks … relative to dividends and earnings. More generally, a number of authors have demonstrated that the real prices of debt and … equity values and in real interest rates on bonds. As long as marginal utility is a convex function of consumption, an …

The purpose of this paper is to compare the pricing of bank loans and bonds in international markets. The results …

inconsistent with the view that the relative yields on taxable and tax-exempt bonds are set by banks and insurance companies which …

commercial bonds indicate that market participants base their evaluations of a bond issue's default risk on agency ratings or on …